KUALA LUMPUR – Malaysian crude palm oil (CPO) stocks for last month fell 5.09% to 798,478 tonnes from 841,312 tonnes the month before, said the Malaysian Palm Oil Board (MPOB).
However, processed palm oil inventory increased 11.96% month-on-month (m-o-m) to 815,179 tonnes from 728,099 tonnes, the agency said in its industry performance report for June.
Overall, palm oil stocks increased 2.82% to 1.61 million tonnes from 1.57 million tonnes previously.
On production, MPOB revealed that CPO output expanded 2.21% to 1.61 million tonnes against 1.57 million tonnes in April.
Output of palm kernel slipped 2.39% to 374,248 tonnes from 383,423 tonnes in the preceding month while crude palm kernel oil production rose 11.30% to 186,988 tonnes from 168,000 tonnes in May.
Meanwhile, palm oil exports increased 11.84% m-o-m to 1.42 million tonnes in June from 1.27 million tonnes, and palm kernel oil exports advanced 7% m-o-m to 76,327 tonnes from 71,330 tonnes in the preceding month.
MPOB said oleochemical exports also gained 4.82% m-o-m to 231,689 tonnes from 221,039 tonnes, while biodiesel exports increased 101.47% m-o-m to 39,877 tonnes from 19,793 tonnes previously.
It said CPO imports stood at nil for two months since May, while total palm oil imports rose 27.09% to 113,126 tonnes from 89,014 tonnes in the preceding month. – Bernama, July 12, 2021
